Harris Corporation Completes Sale of its Government IT Services Business
to Veritas Capital

April 28, 2017 12:40 PM Eastern Daylight Time

MELBOURNE, Fla.--(BUSINESS WIRE)--Harris Corporation (NYSE:HRS) has completed the previously announced
sale of its government IT services business to Veritas Capital for $690
million in cash. Proceeds from the transaction will be used to support
the company’s capital allocation strategy, including pension pre-funding
and share repurchases.

The business, which was part of the former Critical Networks segment,
provides IT and engineering managed services to U.S. government
agencies, including supporting NASA’s Space Communications Network and
Deep Space Network programs.

About Veritas Capital

Veritas Capital is a leading private equity firm that invests in
companies that provide critical products and services, primarily
technology and technology-enabled solutions, to government and
commercial customers worldwide, including those operating in the
aerospace & defense, healthcare, technology, national security,
communications, energy, and education industries. Veritas seeks to
create value by strategically transforming the companies in which it
invests through organic and inorganic means. For more information on
Veritas Capital and its current and past investments, visit www.veritascapital.com.

About Harris Corporation

Harris Corporation is a leading technology innovator, solving customers’
toughest mission-critical challenges by providing solutions that
connect, inform and protect. Harris supports government and commercial
customers in more than 100 countries and has approximately $6 billion in
annual revenue. The company is organized into three business segments:
Communication Systems, Space and Intelligence Systems and Electronic
Systems. Learn more at harris.com.

Forward-Looking Statements

Statements in this press release that are not historical facts are
forward-looking statements that reflect management's current
expectations, assumptions and estimates of future performance and
economic conditions. Such statements are made in reliance on the safe
harbor provisions of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements in this release include but are not limited to the
anticipated use of proceeds from the transaction. The company cautions
investors that any forward-looking statements are subject to risks and
uncertainties that may cause actual results and future trends to differ
materially from those matters expressed in or implied by such
forward-looking statements. The company’s consolidated results, future
trends and forward-looking statements could be affected by many factors,
risk and uncertainties, including but not limited to other potential
uses of proceeds. Further information relating to factors that may
impact the company’s results, future trends and forward-looking
statements are disclosed in the company’s filings with the SEC. The
forward-looking statements contained in this release are made as of the
date of this release, and the company disclaims any intention or
obligation, other than imposed by law, to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.